The government also made gains for overseas Filipino workers in the three countries, Lopez said, citing memoranda of understanding and agreements in the field of education, health, vocational and skills training; investments; and technical cooperation.

These initiatives, Lopez said, form part of “Dutertenomics” that would lead to more job and income opportunities and improved quality of life.

Duterte urged the oil-rich countries to buy more Philippine products to improve their trade balance with the Philippines. Saudi Arabia, Bahrain and Qatar are the main sources of oil and oil products imported by Philippines.

Lopez also reported several initiatives to facilitate investments, including the Investment Protection and Promotion Agreement (IPPA) with Qatar, which should facilitate the flow of Qatar investments into the Philippines.

This agreement, negotiations for which started nine years ago, will make Philippines an eligible recipient of investment funds from the Qatar Sovereign Fund. The initial investment estimate was $1 billion.
Lopez said: “Qatar investors will be treated fairly and will not be disadvantaged.”

The government, he said, would “facilitate identification of opportunities and entry of investments.”